Stockman: System is borderline bankrupt

Posted: Jan 12, 2011 | 34 min 56 sec

Businessman, author and politician David Alan Stockman discusses the current state of the country's economy and the challenges facing many states. Stockman is a former U.S. Representative (R) for the State of Michigan (1977–1981) and Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.